Loews Co. (NYSE:L) Insider Sells $3,869,500.00 in Stock

Loews Co. (NYSE:L - Get Free Report) insider Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $77.39, for a total transaction of $3,869,500.00. Following the completion of the transaction, the insider now directly owns 607,799 shares in the company, valued at $47,037,564.61. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Loews Stock Performance

NYSE:L traded up $0.28 during trading hours on Friday, reaching $77.98. 650,970 shares of the company's stock were exchanged, compared to its average volume of 748,955. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $17.33 billion, a price-to-earnings ratio of 12.34 and a beta of 0.82. Loews Co. has a 1-year low of $55.94 and a 1-year high of $78.55. The company has a 50-day moving average of $76.11 and a 200 day moving average of $72.05.

Loews (NYSE:L - Get Free Report) last announced its earnings results on Monday, May 6th. The insurance provider reported $2.05 earnings per share for the quarter. The business had revenue of $4.23 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%.

Institutional Trading of Loews

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Loews during the fourth quarter worth about $511,159,000. Allspring Global Investments Holdings LLC boosted its holdings in Loews by 1.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,259,802 shares of the insurance provider's stock valued at $255,210,000 after purchasing an additional 37,953 shares in the last quarter. Northern Trust Corp increased its position in Loews by 11.9% during the 4th quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider's stock worth $174,191,000 after purchasing an additional 266,729 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Loews by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,587,817 shares of the insurance provider's stock worth $110,496,000 after buying an additional 21,323 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Loews by 2.6% during the 3rd quarter. Royal Bank of Canada now owns 935,189 shares of the insurance provider's stock worth $59,207,000 after buying an additional 23,756 shares in the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

About Loews

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.

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